Yeah. I see the thing with aurox being that they have plans to mine at 10Mtpa of concentrate for 15 years and reserves which are only good for that rate of mining for 6 years, which in terms of "bankability" is not very good to be promising to sell more than your reserves state.
However, I work near their project and drive across their ore body every day, and I can confirm 100% that they are going to upgrade their reserves to meet their sales contract targets, and then some. so this then becomes more "bankable" in that AXO can meet its commitments - a key risk the banks would want to see taken out.
With respect to GBE, it's no great surprise to either of us to foresee a bulk sample for metallurgy, a pilot plant costing a couple of million to be set up for running small scale tests and to produce small parcels of product for specification with customers, etc. as part of the "bankable" feasibility study. All part of the business, and all part of the joy/frustration of holding long term in a market which likes things to happen inside their attention span - 5 minutes.
I'm a long term holder here, and with AXO - and I'll give you an honest tip to have a good long look at MMB, one of my other favoured stocks where the management are good, they are well funded, with great resource potential (to >1MOz PGE's plus Ni, Cu) and good expertise. Long term holder of MMB as well.
Patience is as always a rare virtue these days.
GBE Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
